Wellington Management Group LLP Boosts Stock Position in Gold Fields Limited $GFI

Key Points

• Wellington Management Group LLP increased its stake in Gold Fields Limited by 77.5% during the first quarter, owning 387,975 shares worth approximately $8.57 million.
• Gold Fields has announced a semi-annual dividend increase to $0.3993 per share, effective September 25th, representing a 130% yield.
• Wall Street analysts are generally optimistic, with three analysts assigning a "Buy" rating and a consensus price target of $25.11 for Gold Fields shares.

Wellington Management Group LLP lifted its position in shares of Gold Fields Limited (NYSE:GFI - Free Report) by 77.5% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 387,975 shares of the company's stock after buying an additional 169,352 shares during the period. Wellington Management Group LLP's holdings in Gold Fields were worth $8,570,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Richardson Financial Services Inc. purchased a new position in shares of Gold Fields during the first quarter valued at approximately $26,000. Banque Cantonale Vaudoise purchased a new position in shares of Gold Fields during the first quarter valued at approximately $44,000. GAMMA Investing LLC lifted its stake in shares of Gold Fields by 21.0% during the first quarter. GAMMA Investing LLC now owns 3,742 shares of the company's stock valued at $83,000 after buying an additional 649 shares during the period. Blue Trust Inc. lifted its stake in shares of Gold Fields by 67.1% during the first quarter. Blue Trust Inc. now owns 4,053 shares of the company's stock valued at $90,000 after buying an additional 1,627 shares during the period. Finally, Brooklyn Investment Group lifted its stake in shares of Gold Fields by 447.3% during the first quarter. Brooklyn Investment Group now owns 4,291 shares of the company's stock valued at $95,000 after buying an additional 3,507 shares during the period. Hedge funds and other institutional investors own 24.81% of the company's stock.

Gold Fields Stock Up 1.7%

NYSE GFI traded up $0.60 on Wednesday, reaching $34.99. The company had a trading volume of 3,726,182 shares, compared to its average volume of 3,040,606. The firm has a market capitalization of $31.32 billion, a PE ratio of 14.89, a P/E/G ratio of 0.36 and a beta of 0.47. Gold Fields Limited has a 1 year low of $12.98 and a 1 year high of $35.39. The firm has a 50-day moving average of $27.60 and a 200-day moving average of $23.91. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.89 and a quick ratio of 0.73.

Gold Fields Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, September 12th will be issued a $0.3993 dividend. The ex-dividend date is Friday, September 12th. This represents a yield of 130.0%. This is a boost from Gold Fields's previous semi-annual dividend of $0.38. Gold Fields's dividend payout ratio (DPR) is currently 26.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of Gold Fields from $24.00 to $32.00 and gave the company a "market perform" rating in a report on Monday, August 25th. Capital One Financial set a $32.00 target price on shares of Gold Fields in a report on Friday, August 22nd. Canaccord Genuity Group assumed coverage on shares of Gold Fields in a report on Monday, July 28th. They issued a "buy" rating and a $33.00 target price for the company. Finally, Wall Street Zen downgraded shares of Gold Fields from a "strong-buy" rating to a "buy" rating in a report on Monday. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Gold Fields has a consensus rating of "Hold" and an average target price of $25.11.

Gold Fields Company Profile

Gold Fields Limited operates as a gold producer with reserves and resources in Chile, South Africa, Ghana, Canada, Australia, and Peru. It also explores for copper and silver deposits. The company was founded in 1887 and is based in Sandton, South Africa.